Telephone and Data Systems, Inc. (NYSE:TDS) Upgraded at Zacks Investment Research
Telephone and Data Systems, Inc. (NYSE:TDS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $32.00 price objective on the Wireless communications provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 7.82% from the company’s current price.
According to Zacks, “Telephone and Data Systems posted disappointing second-quarter 2017 financial results, wherein both the top and bottom line missed the Zacks Consensus Estimate. Despite such weak results, we are impressed with the company’s efforts to expand its business in the managed hosting and cloud service market. Launch of Shared Data plans for consumers and businesses at nominal prices have helped the company gain consumers. The company's IPTV is also doing considerably well. The company continues to experience strong smartphone demand at its wireless wing – U.S. Cellular. Over the past three months, the stock price grew 7.93%, beating its industry's growth of 4.18%. However, intense competition, roaming revenues related woes, costs associated with network integration and construction of new cell sites, aggressive equipment pricing, wireless technology upgrades and spectrum licensing are near-term risks.”
Separately, BidaskClub downgraded Telephone and Data Systems from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Telephone and Data Systems has a consensus rating of “Hold” and a consensus target price of $35.00.
Shares of Telephone and Data Systems (TDS) traded down 0.34% during midday trading on Tuesday, reaching $29.58. The company’s stock had a trading volume of 115,883 shares. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 45.44 and a beta of 1.04. Telephone and Data Systems has a 12 month low of $24.12 and a 12 month high of $32.97. The stock has a 50-day moving average of $28.00 and a 200 day moving average of $27.89.
Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings data on Friday, August 4th. The Wireless communications provider reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by $0.04. Telephone and Data Systems had a net margin of 1.09% and a return on equity of 1.15%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the company posted $0.25 EPS. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, analysts predict that Telephone and Data Systems will post $0.43 earnings per share for the current fiscal year.
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Large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake in shares of Telephone and Data Systems by 2.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,094 shares of the Wireless communications provider’s stock valued at $108,000 after buying an additional 84 shares during the period. Sei Investments Co. increased its stake in shares of Telephone and Data Systems by 13.9% in the second quarter. Sei Investments Co. now owns 4,868 shares of the Wireless communications provider’s stock valued at $135,000 after buying an additional 594 shares during the period. LS Investment Advisors LLC increased its stake in shares of Telephone and Data Systems by 20.0% in the second quarter. LS Investment Advisors LLC now owns 7,451 shares of the Wireless communications provider’s stock valued at $207,000 after buying an additional 1,242 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of Telephone and Data Systems during the second quarter valued at about $209,000. Finally, Teacher Retirement System of Texas increased its stake in shares of Telephone and Data Systems by 2.4% in the first quarter. Teacher Retirement System of Texas now owns 7,923 shares of the Wireless communications provider’s stock valued at $210,000 after buying an additional 183 shares during the period. Institutional investors own 80.55% of the company’s stock.
About Telephone and Data Systems
Telephone and Data Systems, Inc is a diversified telecommunications company. The Company is engaged in conducting its Wireless operations through its subsidiary, United States Cellular Corporation (U.S. Cellular), as well as providing its wireline services, cable services, and hosted and managed services (HMS), through its subsidiary, TDS Telecommunications Corporation (TDS Telecom).
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